L'Oreal's shares rose today after fourth-quarter earnings from the French cosmetics company helped to offset concerns over the impact of China's coronavirus health crisis on its business.
L'Oreal late last night said its fourth-quarter revenue had risen 11.4% to €7.9 billion.
The maker of Maybelline cosmetics said China's coronavirus crisis would have only a short-term hit on the company's Asian business, which is its biggest sales driver.
Robust demand from Chinese consumers for luxury creams such as L'Oreal's Lancome range has fuelled the company's sales growth.
L'Oreal's rival Estee Lauder has also benefited from this trend and performed strongly in the last three months of 2019.
However, the Clinique-owner trimmed its profit forecast for 2020 yesterday, citing the virus impact.
China has now reported more than 600 deaths and 30,000 cases of the coronavirus.